Swiss pharmaceutical company Novartis has announced plans to invest $23 billion in the construction of six new manufacturing facilities in the United States, including a new research center in San Diego, California. This decision is driven by the need to produce pharmaceutical ingredients and ensure the American market has access to high-quality medications.
This is reported by Finway
Currently, Novartis products, such as Entresto for treating heart failure and Kisqali for fighting breast cancer, are manufactured at 33 plants worldwide. According to company representatives, the new manufacturing sites and their expansions are planned to be built over the next five years, creating over 1,000 new jobs for highly skilled professionals, such as engineers and scientists, as well as an additional 3,000 jobs for support staff and construction workers.
While the company has not yet finalized the locations for the four new plants, it is known that two of them, designated for producing specific types of cancer therapies, will be located in Florida and Texas.
“We believe we can manage the tariffs, although, of course, they will be very painful, so while this is a factor (driving these investments), it is not the driving factor,” said Novartis CEO Vas Narasimhan, emphasizing that the company intends to produce all the medications it sells to Americans in the USA, rather than importing them.